Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
๐ GBPAUD has been overall bearish trading below the red trendline, and it is currently retesting it.
Moreover, the zone 1.9 is a robust resistance.
๐น So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the resistance zone in green and red trendline acting as a non-horizontal resistance.
๐ As per my trading style:
As GBPAUD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
๐ GBPAUD has been overall bearish trading below the red trendline, and it is currently retesting it.
Moreover, the zone 1.9 is a robust resistance.
๐น So the highlighted red circle is a strong area to look for sell setups as it is the intersection of the resistance zone in green and red trendline acting as a non-horizontal resistance.
๐ As per my trading style:
As GBPAUD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT